Historical Supply Chain Management
Before the internet, managing a supply chain was a relatively simple, linear process. You would place orders with vendors, and your supply would not be a one-to-one ratio. Instead, you'd use previous data to guess what an appropriate level of stock would be. With technological advancements, there is no longer as much guesswork involved in inventory and supply chain management.
What Is Electronic Supply Chain Management?
What exactly is an e-supply chain, also known as an e-scm? Simply put, it is an online method of managing a supply chain. It combines the concept of electronic business (e-business) with supply chain management (SCM).
With an electronic supply chain, you have a new set of advantages and disadvantages that are not present in traditional supply chain management. People can share their needs instantly by communicating via email and messaging programmes. Inventory can also be automatically updated after stock leaves your POS system using electronic supply chain programmes.
With an electronic supply chain, you have a new set of advantages and disadvantages that are not present in traditional supply chain management. People can share their needs instantly by communicating via email and messaging programmes. Inventory can also be automatically updated after stock leaves your POS system using electronic supply chain programmes.
How Do Supply Chains Work?
Supply chains function similarly to a river or stream. Products flow from upstream, where they are manufactured, to downstream, where they are sold to customers. During the product's downstream journey, there are small offshoots that can include add-ons, quality assurance, and/or raw materials. A ledger and up-to-date tracking from your point of sale should be present to ensure that a supply chain runs as smoothly as possible (POS).
What Is Electronic Retailing (E-tailing)?
Electronic retailing (E-tailing) is the sale of goods and services through the internet. E-tailing can include business-to-business (B2B) and business-to-consumer (B2C) sales of products and services.
E-tailing requires companies to tailor their business models to capture internet sales, which can include building out distribution channels such as warehouses, internet webpages, and product shipping centers.
Notably, strong distribution channels are critical to electronic retailing as these are the avenues that move the product to the customer.
E-tailing requires companies to tailor their business models to capture internet sales, which can include building out distribution channels such as warehouses, internet webpages, and product shipping centers.
Notably, strong distribution channels are critical to electronic retailing as these are the avenues that move the product to the customer.
What How Electronic Retailing (E-tailing) Works ?
Electronic retailing includes a broad range of companies and industries. However, there are similarities between most e-tailing companies that include an engaging website, online marketing strategy, efficient distribution of products or services, and customer data analytics.
There are many ways companies can earn revenue online. Of course, the first income source is through the sales of their product to consumers or businesses. Both B2C and B2B companies can earn revenue by selling their services through a subscription-based model such as Netflix (NFLX), which charges a monthly fee for access to media content.
Revenue can also be earned through online advertising. For example, Meta (FB), formerly Facebook Inc., earns money mainly from ads placed on its Facebook website by companies looking to sell to the millions who are "on Facebook," regularly checking their pages.
There are many ways companies can earn revenue online. Of course, the first income source is through the sales of their product to consumers or businesses. Both B2C and B2B companies can earn revenue by selling their services through a subscription-based model such as Netflix (NFLX), which charges a monthly fee for access to media content.
Revenue can also be earned through online advertising. For example, Meta (FB), formerly Facebook Inc., earns money mainly from ads placed on its Facebook website by companies looking to sell to the millions who are "on Facebook," regularly checking their pages.
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